Overview of Koamanshonnekusuteeji Horie Machi (コアマンションネクステージ堀江町)
Koamanshonnekusuteeji Horie Machi (コアマンションネクステージ堀江町) is a 23-year-old condominium located at Kako Shima Shi Horie Machi 11-1 (鹿児島市堀江町11-1), Kagoshima, Japan. Built in 2003, it comprises 68 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Satou Benekku (さとうベネック).
Pricing & Floor Plans
Based on 13 past listings, prices have ranged from 1,560〜3,780万円 (approx. $104,000–$252,000 USD at ¥150/$).
Unit sizes range from 55.6–99.5 sqm (598–1071 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 4LDK (4-bedroom w/ living-dining-kitchen), 2LDK (2-bedroom w/ living-dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Estimated price per sqm: ¥37.4万/sqm (approx. $2,493/sqm or $232/sqft).
Location & Neighborhood
The property is located at Kako Shima Shi Horie Machi 11-1 (鹿児島市堀江町11-1), Kagoshima, Japan. It is a 7-minute walk to the nearest station. This is considered good station access by Japanese standards.
Investment Perspective
Building depreciation: In Japan, buildings depreciate significantly over time. Wood-frame houses depreciate to near-zero value at around 22 years, while RC structures depreciate more slowly but still lose value. At 23 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Scale advantage: With 68 units, this is a relatively large condominium. Larger buildings typically benefit from lower per-unit maintenance and repair reserve costs.
Key cultural note: Unlike the US where properties typically appreciate over time, Japanese buildings depreciate while the underlying land tends to hold or gain value. This means buyers should evaluate the land-to-building value ratio carefully.
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